What is behind the devaluation of Pakistani Rupee?

What is behind the devaluation of Pakistani Rupee?

ISLAMABAD - Exchange companies have termed loose border control and media responsible for the devaluation for the Pakistani Rupee .

They are demanding strong border control to stop Pakistani Rupee’s declining value in the open currency market. They also blame the media for spreading the news about Rupee’s devaluation, as some news channels reported that the US Dollar (USD) will go up to Rs. 135 soon.

After the recent increase in USD value in the open market, State Bank of Pakistan (SBP) called meetings with the Exchange Companies Association of Pakistan (ECAP) and other major players of the currency market.

Forex Association of Pakistan’s president Malik Bostan and ECAP’s General Secretary Zafar Paracha attended the meeting with SBP’s Executive Director, Syed Irfan Ali.